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Why HK

Hong Kong – the best springboard for new ideas

^{Hong Kong is integral to Asia serving as the growth engine for the world’s economy in the next decade, and a strategic bridge for innovators looking to access the Mainland market to capitalise on opportunities brought by the National 14th Five-Year Plan and the Guangdong-Hong Kong-Macao Greater Bay Area development. Global scientists, innovators, entrepreneurs and investors will find an unrivalled base here to turn their ideas into real success, supported by the city’s solid R&D capabilities, extensive technological infrastructure, robust legal system and intellectual property protections, ample government funding and policy support for innovation and technology, and a world-class talent pool.}

Thrive where innovation prospers

Strong government support

_{Developing Hong Kong into an international I&T hub is high on the agenda of the HKSAR Government. Ample funding and policy support have been lined up to accelerate the city’s I&T development. In the past five years, the current-term Government has unprecedentedly invested over HK$150 billion* to support I&T development since 2018 for I&T development, and spearheads the "InnoHK Research Clusters" initiative with more than HK$10 billion funding to further promote the development of life science and artificial intelligence and robotics, the strategic fields that Hong Kong enjoys clear advantages. Policy measures have been introduced to fast-track admission of overseas and Mainland R&D talent into Hong Kong, via programmes such as the Technology Talent Admission Scheme and the Research Talent Hub. The government vows strong ongoing support to realise the vision of fostering Hong Kong as an international I&T hub, as envisaged in China’s 14th Five-Year Plan.}

*Source:LCQ5: Promoting development of innovation and technology (25 May 2022)

A world-class innovation hub

_{The HKSAR Government is consolidating Hong Kong as a world-class innovation and technology hub with focuses on eight major areas: increasing resources for R&D, pooling technology talent, providing investment funding, providing I&T infrastructure, reviewing existing legislation and regulations, opening up government data, leading changes to procurement arrangements, and popularising science education. Hong Kong’s I&T hub appeal is confirmed by high regional and global rankings, including:
- Asia-Pacific No.1 and World No.2 for digital competitiveness (IMD: World Digital Competitiveness Ranking 2021)
- World No.6 and Asia-Pacific No.2 data centre market (Cushman & Wakefield: 2022 Global Data Center Market Comparison)
- World No.1 lowest taxed data centre market (Cushman & Wakefield: 2022 Global Data Center Market Comparison)
- World No.3 and Asia-Pacific No.1 hub for development of new technology (Smart Centres Index by UK-based Z/Yen released in May 2022)
- Asia-Pacific No.2 and World No.3 for digital intelligence (Digital Intelligence Index 2020 complied by US-based The Fletcher School at Tufts University and Mastercard)
- South East Asia & Oceania No.5 and World No.14 for innovation performance (World Intellectual Property Organization: Global Innovation Index 2021)}

*Source: Brand HK Factsheet (June 2022)

Ideally protected

_{Knowing your invention and ideas are protected is crucial. Here in Hong Kong, you can innovate in a fair business environment unhindered. Intellectual property is shielded and business is supported by a free flow of news and information enshrined in law.}

Grow where business shines

One of the world’s 7 freest and competitive economies*

Benefit from Hong Kong’s status as a global financial centre, with a highly liquid capital market, primed to attract funding from around the world. *Source: Hong Kong Themes: Hong Kong Rankings
(2 June 2022)

Hong Kong’s position as a premier global IPO hub reinforced*

There were 92 new listings in Hong Kong as of 17 December 2021, raising a total of HKD318.96 billion. Among these, 54 are new economy companies, including 32 healthcare and biotech firms, accounting for 86.6% of IPO funds raised. *Source: HKEX in 2021: Year in Review (21 Dec 2021)

High digital connectivity

Stay well connected with Hong Kong’s global communications hub, which is linked to 12 submarine cable systems and 10 satellites*. *Source: Hong Kong Themes: Asia’s world city (15 Feb 2022)

Competitive tax system

Receive up to 300% tax deductions for research and development spending*. *Source: Hong Kong Themes: Hong Kong’s Value Proposition (16 Dec 2021);

Top-tier talent

Tap a wide pool of local, multilingual talent, cultivated from globally-renowned universities, which rank globally with 3 in World Top 50 and 2 in Top 10 in Asia.* *Source: Hong Kong Themes: Asia’s world city (15 Feb 2022)

Network where opportunities connect

A transport hub plugged into global markets

Hong Kong is just a five-hours’ flight away from half of the world’s population. It has one of the world’s busiest airports, connecting to more than 200 destinations by over 120 airlines.

Source: Hong Kong Themes: Asia’s World City (15 Feb 2022)

NETWORK WHERE OPPORTUNITIES CONNECT

Seizing the Greater Bay Area opportunities

The merge with the Greater Bay Area enables Hong Kong to further establish itself as an international innovation and technology hub and provides a catalyst for its diversification of the economy and of industries.

Source: Hong Kong Themes: Guangdong-Hong Kong-Macao Greater Bay Area (6 May 2022)
Source of location map: Greater Bay Area

Strategic locations global links to GBA, Asia and beyond

Hong Kong is poised to become the gateway to these opportunities

Unlock life-changing innovation opportunities in Hong Kong

Where every bright idea is nurtured to thrive.

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